NEW YORK, NY / ACCESSWIRE / August 22, 2017 / Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Southern District of Texas, case No. 4:17-cv-02367, on behalf of shareholders of Parkway, Inc. (''Parkway'' or the ''Company'') (NYSE: PKY) who have been harmed by Parkway's and its board of directors' (the ''Board'') alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the ''Exchange Act'') in connection with the proposed merger of the Company with Canada Pension Plan Investment Board (''CPPIB'').
On June 29, 2017, the Board caused the Company to enter into an agreement and plan of merger (''Merger Agreement''), pursuant to which the Company's shareholders stand to receive $23.05, $4.00 of which will be paid as a ''special dividend,'' in cash for each share of Parkway stock they own (the ''Merger Consideration''), which represents a discount of 12% to the Company's 52-week high of $26.20. The shareholder vote is expected to occur on September 25, 2017.
If you wish to obtain information concerning this action or view a copy of the complaint, you can do so by clicking here: www.faruqilaw.com/PKYnotice.
The complaint alleges that the Proxy Statement within a Schedule 14A form (the ''Proxy'') filed with the Securities and Exchange Commission (''SEC'') on July 27, 2017, violates Sections 14(a) and 20(a) of the Exchange Act because it provides materially incomplete and misleading information about the Company and the Proposed Transaction, including information concerning the Company's financial projections and analysis, on which the Board relied to recommend the Proposed Transaction as fair to Parkway shareholders.
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Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud. Faruqi & Faruqi, LLP, was founded in 1995 and the firm maintains its principal office in New York City, with offices in Delaware, California, Georgia, and Pennsylvania.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from the date of this notice. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:
Nadeem Faruqi, Esq.
James M. Wilson, Jr., Esq.
FARUQI & FARUQI, LLP
685 3rd Avenue, 26th Floor
New York, NY 10017
Telephone: (877) 247-4292or (212) 983-9330
E-mail: nfaruqi@faruqilaw.com
jwilson@faruqilaw.com
SOURCE: Faruqi & Faruqi, LLP
ReleaseID: 473369
